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Ian

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07:43 am: The start of another week
A busy and very hot Sunday, with services at 10.30, 4 and 6.30. The
middle one was a special, and just as well, else I don't think I'd
ever do anything else on a Sunday. We'd had lunch at the Merebrook
before that. Matthew had suggested that on Friday, but it was already
in my plan. Also in my plan is a major tidying exercise tonight so
that Viv can say 'I can't believe the state of this place'. But she
should have seen it 24 hours ago. I owe that thought to Garrison
Keillor, but I think he is just reflecting family life all over the
world. Why do I keep waking at 04.30 and 05.10? It isn't doing me any
good at all.
In global news, the Reserve Bank of NZ has intervened for the first
time ever to adjust the currency value, selling kiwis to make the
currency fall. It's a risky strategy, as many investors have deeper
pockets than the NZ gov. Personally, I would have thought that
correcting last week's interest rate rise to 8% would be a better
approach, but that wouldn't have slowed domestic consumption much. On
the other hand, these rate changes don't impact the retail economy
much in the short term, as so much home mortgage business is medium to
long term fixed rate. Wait and see what happens. Though I must admit a
rate of 76.5c does seem rather high, being twice what it fell to in
late 2000. That is all.

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